[Home Hearing, 114 Congress] [From the U - What is a cd in finance.S. Government Publishing Office] THE STRATEGIC IMPORTANCE OF STRUCTURE A STRONGER U.S.-- CARIBBEAN PARTNERSHIP ======================================================================= HEARING PRIOR TO THE SUBCOMMITTEE ON THE WESTERN HEMISPHERE OF THE COMMITTEE ON FOREIGN AFFAIRS LEGISLATURE ONE HUNDRED FOURTEENTH CONGRESS SECOND SESSION JULY 14, 2016 Serial No. 114-189 Printed for the Get more info usage of the Committee on Foreign Affairs [GRAPHIC( S) NOT OFFERED IN TIFF FORMAT] Offered through the Internet: http://www. foreignaffairs.house. gov/ or http://www. gpo.gov/ fdsys/ _ U.S. FEDERAL GOVERNMENT PUBLISHING OFFICE 20-749PDF WASHINGTON: 2016 ----------------------------------------------------------------------- For sale by the Superintendent of Documents, U.S. Government Publishing Workplace Internet: book shop.
ROYCE, California, Chairman CHRISTOPHER H. SMITH, New Jersey ELIOT L. ENGEL, New York City ILEANA ROS-LEHTINEN, Florida BRAD SHERMAN, California DANA ROHRABACHER, California GREGORY W. MEEKS, New York STEVE CHABOT, Ohio ALBIO SIRES, New Jersey JOE WILSON, South Carolina GERALD E. CONNOLLY, Virginia MICHAEL T. Mc, CAUL, Texas THEODORE E. DEUTCH, Florida TED POE, Texas BRIAN HIGGINS, New York City MATT SALMON, Arizona KAREN BASS, California DARRELL E. ISSA, California WILLIAM KEATING, Massachusetts TOM MARINO, Pennsylvania DAVID CICILLINE, Rhode Island JEFF DUNCAN, South Carolina ALAN GRAYSON, Florida MO BROOKS, Alabama AMI BERA, California PAUL COOK, California ALAN S. LOWENTHAL, California RANDY K.
YOHO, Florida ROBIN L. KELLY, Illinois CURT CLAWSON, Florida BRENDAN F. BOYLE, Pennsylvania SCOTT Des, JARLAIS, Tennessee REID J. What does leverage mean in finance. RIBBLE, Wisconsin DAVID A. TROTT, Michigan LEE M. ZELDIN, New York City DANIEL DONOVAN, New York City Amy Porter, Chief of Staff Thomas Sheehy, Personnel Director Jason Steinbaum, Democratic Personnel Director ------ Subcommittee on the Western Hemisphere JEFF DUNCAN, South Carolina, Chairman CHRISTOPHER H. SMITH, New Jersey ALBIO SIRES, New Jersey ILEANA ROS-LEHTINEN, Florida JOAQUIN CASTRO, Texas MICHAEL T. Mc, CAUL, Texas ROBIN L. KELLY, Illinois MATT SALMON, Arizona GREGORY W. MEEKS, New York City RON De, SANTIS, Florida ALAN GRAYSON, Florida TED S.
LOWENTHAL, California DANIEL DONOVAN, New York C O N T E N T S ---------- Page WITNESSES Mr. Eric Farnsworth, vice president, Council of the Americas and Americas Society ... ... ... ... ... ... ... ...... 4 Ms. Sally Yearwood, executive director, Caribbean-Central American Action ... ... ... ... ... ... ... ... ... ... 10 His Excellency Richard Bernal, pro-vice chancellor for global affairs, University of the West Indies in Jamaica ... ... ... 24 LETTERS, STATEMENTS, AND SO ON, SUBMITTED FOR THE HEARING Mr. Eric Farnsworth: Prepared statement ... ... ... ...... 7 Ms. Sally Yearwood: Prepared statement ... ... ... ...... 13 His Excellency Richard Bernal: Prepared declaration ... ...... 26 APPENDIX Hearing notification ... ... ... ... ... ... ... ... ...... 40 Hearing minutes ... ... ... ... ... ... ... ... ... ... 41 THE TACTICAL IMPORTANCE OF BUILDING A STRONGER U.S.-- CARIBBEAN PARTNERSHIP ---------- THURSDAY, JULY 14, 2016 House of Representatives, Subcommittee on the Western Hemisphere, Committee on Foreign Affairs, Washington, DC. Jeff Duncan (chairman of the subcommittee )presiding. Mr. Duncan. Okay. A quorum being present, the subcommittee will pertain to order.
I would now like to recognize myself for an opening statement. Thank you, men, for your patience. Today, we require to highlight a very crucial region in our hemisphere that sadly frequently gets neglected. Much of our Caribbean pals have actually consistently urged the United States to pay more attention to the Caribbean, and I want you to know that I have heard you. I would likewise like to thank Ranking Member Sires in particular for his leadership in working to prioritize this subcommittee's focus on the Caribbean. Nevertheless, while these are definitely crucial strengths for the region, the Caribbean has much more to offer which U.S. organizations, universities, and regional.
neighborhoods ought to consider when preparing future investment, academic research study, or where to develop stronger financial ties. Among the primary tools of U.S. engagement with CARICOM nations is the Caribbean Basin Initiative, or CBI, which was developed in 1983. Can we turn that sound down a little bit, sir? Can we turn that down simply a little bit? Okay. Which was developed in 1983 and has actually consequently broadened to provide 17 nations and dependent territories with duty-free access to U.S. This engagement has actually led to a 44-percent increase in U.S. exports to the Caribbean over the previous 10 years, and in 2015 the overall trade relationship in between the U.S.
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and the Caribbean was $33. 4 billion. I believe it is important to work with our next-door neighbors to equally promote economic growth through trade liberalization, respect for the guideline of law, and adherence to complimentary market principles in order to achieve success that is sustainable for the region. How to finance a home addition. In addition, I am a firm advocate of deeper U.S.-Caribbean energy relations. To me it is a win-win situation. U.S. possesses an abundance of oil, natural gas, and technical expertise, and the Caribbean has some of the greatest energy costs worldwide and requires to reduce these costs by constructing facilities for delivering energy, integrating energy markets to draw in financial investment and funding, and establish pipelines and liquified gas structures. After all, the United States is the largest energy manufacturer in the Western Hemisphere; collectively with Mexico and Canada, The United States and Canada represents 71 percent of the hemisphere.
's crude oil and 28 percent of natural gas reserves in the hemisphere. Likewise, Argentina, Brazil, Colombia, Peru, and Trinidad and Tobago have considerable oil and gas production. In my view, freedom-loving, market-friendly, energy-producing countries in this hemisphere ought to be working more closely together to pursue hemisphere-acquired, energy independence which means helping non-energy producing countries consisting of the Caribbean neighbors in reaching this objective. Ultimately, if the Western Hemisphere were more energy independent it would go a long method to changing our societies and security and self-reliance and our financial development. and CARICOM. Nevertheless, I remain worried about the growing security challenges in the area from transnational criminal organizations that seek to utilize the region to ship drugs, migrants, and contraband to United States coasts. The Caribbean Basin.
Security Initiative is another tool the United States has actually used given that 2010 to attend to local security problems, request cancellation letter and given the Caribbean's tactical place to U.S. homeland, we require to keep thinking about ways to enhance CBSI and more successfully work together with the local partners to control borders, obstruct criminal groups 'ability to exploit permissive environments to their benefit. I am also concerned about individuals from the Caribbean that have actually signed up with Islamic extremist organizations. Southern Command, General Kelly, affirmed before Congress that near to 100 individuals had actually left the Caribbean to go battle in Syria. At a subsequent rundown, he specifically bluegreen maintenance fee calculator named Jamaica, Siriname, and Trinidad and Tobago as having had people leave for the battlefield. These hazards to the United States and regional security ought to inspire everybody; provide all of us a higher desire to do more to reinforce security cooperation. Additionally, I want to mention at a previous subcommittee hearing on border security risks in the area, I raised issues regarding reports that I had actually seen about resident by investment programs in the Caribbean which have actually allowed scams, corruption, and exploitation by foreign nationals.